The Associated PressPresident Barack Obama looks on at the White House Correspondents' Association dinner.

The president's approval rating is at 39 percent positive and 54 percent negative. It looks like the debt ceiling fight and GOP presidential hopefuls have taken their toll.

Los Angeles Times, Aug. 14: The polling setback comes as the Republican race to unseat him has kicked into overdrive. The past week has been dominated by the activity in Iowa ahead of theAmes Straw Poll, and the entrance of a new contender in Texas Gov.Rick Perry. The candidates have routinely assailed Obama's leadership in appealing to conservative activists who dominate this stage of the nominating contest.Obama is set to launch something of a counter-offensive on Monday with a three-day bus tour of the Midwest, a trip that includes two stops in Iowa.The White Housedenied that the itinerary was politically motivated, however.